28 November 2011 19:09 [Source: ICIS news]
HOUSTON (ICIS)--A US butadiene (BD) producer nominated a 15 cent/lb ($331/tonne, €248/tonne) reduction for December, outstripping two rival suppliers and putting BD at $1.00/lb next month, market sources said on Monday.
The latest nomination followed proposed reductions of 10 cents/lb by two other US producers.
One final nomination is expected later in the day.
The expected reduction in December will extend a downtrend that began in September and has since pushed BD prices down by 35% on the back of ample supply and weakening demand.
BD contracts in November settled at $1.15/lb, down by 25 cents/lb from October.
($1 = €0.75)
For more on butadiene, visit ICIS chemical intelligence
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections